Resale has been with us a very long time—at yard sales, on used car lots, in classified ads. What’s changing is the magnitude of the market, boosted to a significant degree by Gen Z consumers and a growing demand for sustainability. GlobalScan, a research and advisory firm, reports that 74% of global consumers shop resale. The dominant categories are apparel, electronics, and home goods. All sorts of major brands, from Apple and Nike and Rolex to Walmart and Lululemon, are moving into the market. The resale market for sneakers alone today is estimated to be more than $5 billion, with international markets outselling the U.S. market. Rare pairs sell for thousands of dollars—a situation that has prompted some financial firms, among them TD Cowen, to identify sneakers as an “alternative asset class.” Allied Market Research estimated that in 2021 the global market for refurbished and used mobile phones was worth $52 billion. GlobalData estimates that in 2023 the total resale market in the United States is roughly $175 billion.